Form1120-Pol - U.s. Income Tax Return For Certain Political Organizations - 2015 Page 5
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65
Form 1120-POL (2015)
Page
Exempt organizations (section 501(c))
• The 2016 Form 1120-POL is not
The online application process is not yet
that are not political organizations.
available at the time the organization is
available for organizations with addresses
required to file its return. The organization
in foreign countries.
Complete lines 17a and 17b if the
must show its 2016 tax year on the 2015
organization made exempt function
If the organization has not received its
Form 1120-POL and take into account any
expenditures that were not from a separate
EIN by the time the return is due, write
tax law changes that are effective for tax
segregated fund. Enter on line 17c the
“Applied for” in the space provided for the
years beginning after December 31, 2015.
smaller of line 17a or 17b. See Exempt
EIN. See Pub. 583, Starting a Business and
organization that is not a political
Address. Include the suite, room, or other
Keeping Records, for details.
organization, earlier, for an explanation of
unit number after the street address. If the
Income and deductions. Campaign
the amounts to enter on these lines.
Post Office does not deliver mail to the
contributions and other exempt function
street address and the organization has a
Line 19. Taxable income. If the taxable
income are generally not includible in
P.O. box, show the box number instead of
income on line 19 is zero or less, the Form
income; likewise, campaign expenditures
the street address.
1120-POL is not required to be filed, but it
and other exempt function expenditures
may be filed to start the statute of
Final return, name change, address
are not deductible. To be deductible in
limitations period.
change, amended return. If the
computing political organization taxable
organization ceases to exist, check the
income, expenses must be directly
Line 20. Income tax. The rate of tax
“Final return” box.
connected with the production of political
imposed depends on whether the political
organization taxable income. In those
organization is a principal campaign
If the organization has changed its name
cases where expenses are attributable to
committee as defined in section 527(h).
since it last filed a return, check the “Name
the production of both exempt function
The tax rate is lower for a principal
change” box.
income and political organization taxable
campaign committee.
If the organization has changed its
income, the expenses should be allocated
Political organization not a principal
address since it last filed a return, check
on a reasonable and consistent basis. Only
campaign committee. An organization
the “Address change” box.
the portion allocable to the production of
that is not a principal campaign committee
Note. If a change in address occurs after
political organization taxable income may
computes its tax by multiplying line 19 by
the return is filed, the organization should
be deducted. No deduction is allowed for
35% and enters the result on line 20.
use Form 8822-B, Change of Address—
general administrative or indirect expenses.
Principal campaign committee
Business, to notify the IRS of the new
Line 7. Other income and nonexempt
(section 527(h)). A political organization
address.
function expenditures. Enter the income
that is a principal campaign committee of a
Amended return. If you are filing an
from other sources, such as:
candidate for U.S. Congress computes its
amended Form 1120-POL:
• Exempt function income that was not
tax in the same manner as provided in
• Check the “Amended return” box,
properly segregated for exempt functions.
section 11(b) for corporations. Compute
the tax as follows:
• Complete the entire return,
• Income received in the ordinary course
of a trade or business.
• Correct the appropriate lines with the
1. Enter taxable income (line
new information, and
• Ordinary income from the trade or
19, Form 1120-POL)
.
.
business activities of a partnership (from
2. Enter line 1 or $50,000,
• Refigure the tax liability.
Schedule K-1 (Form 1065), Part III, box 1).
whichever is less .
.
.
Attach a sheet that explains the reason
• Exempt function income (minus any
3. Subtract line 2 from line 1
for the amendments and identifies the lines
deductions directly connected with the
and amounts being changed on the
4. Enter line 3 or $25,000,
production of that income) taxable under
amended return. Generally, the amended
whichever is less .
.
.
section 527(i)(4) for failure to timely file
return must be filed within 3 years after the
5. Subtract line 4 from line 3
Form 8871, Political Organization Notice of
date the original return was due or 3 years
6. Enter line 5 or $9,925,000,
Section 527 Status. Include amounts
after the date the organization filed it,
whichever is less .
.
.
whether or not segregated for use for an
whichever is later.
exempt function.
7. Subtract line 6 from line 5
Employer identification number (EIN).
Also include on this line:
8. Multiply line 2 by 15% .
.
Enter the nine-digit EIN assigned to the
organization. If the organization does not
• Expenditures that were made from
9. Multiply line 4 by 25% .
.
have an EIN, it must apply for one. An EIN
exempt function income that were not for
10. Multiply line 6 by 34% .
.
can be applied for:
an exempt function and resulted in direct
11. Multiply line 7 by 35% .
.
or indirect financial benefit to the political
• Online—Click on the Employer ID
12. If line 1 is greater than
organization (see Regulations section
Numbers link at https://
$100,000, enter the smaller
1.527-5 for examples) and
Businesses. The EIN is issued immediately
of: 5% of taxable income in
once the application information is
• Illegal expenditures.
excess of $100,000, or
validated.
$11,750
.
.
.
.
.
Attach a schedule listing all income and
• By faxing or mailing Form SS-4,
expenditures included on line 7.
13. If line 1 is greater than $15
Application for Employer Identification
million, enter the smaller of:
Line 17. Taxable income before specific
3% of taxable income in
Number.
deduction of $100. Political organizations,
excess of $15 million or
newsletter funds, and separate segregated
▲
Corporations located in the
$100,000 .
.
.
.
.
!
funds compute their tax by subtracting line
United States or U.S.
14. Add lines 8 through 13.
16 from line 8 and enter the result on line
possessions can use the online
Enter here and on line 20,
17(c).
application. Foreign
CAUTION
Form 1120-POL
.
.
.
corporations should call 1-267-941-1099
for more information on obtaining an EIN.
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